EnGold Mines Closes $200,000 Flow-Through Financing
TSX VENTURE: EGM
Vancouver, British Columbia--(Newsfile Corp. - April 5, 2019) - David H. Brett, President & CEO, EnGold Mines Ltd., (TSXV: EGM) ("EnGold" or the "Company") reports that the Company has closed the non-brokered $200,000 flow through private placement announced March 29th, 2019. The Company has issued to a single institutional investor 1,666,666 flow-through units at $0.12 per unit (the "Units") for gross proceeds of $200,000. The Units consist of one flow-through common share and one half of one warrant to purchase additional shares, whereby one whole warrant will entitle the holder to purchase one non flow-through share at a price of $0.16 for period of one year. The Units are subject to a 4 month hold and will not be tradable before August 6th, 2019. The funds will be used for ongoing exploration of EnGold's 100% owned copper, gold, silver, magnetite Lac La Hache property in the Cariboo region of BC.
The Company also paid a finder's fee of 7% in cash and issued 116,666 warrants to purchase one common share each for one year at $0.16 to a single finder.
EnGold is a Vancouver-based copper/gold exploration company focused solely on its 100% owned Lac La Hache property in the Cariboo region of BC. EnGold's vision is to identify and delineate mineral resources at Lac La Hache that could potentially support an economically feasible and environmentally sustainable underground mining operation. The Spout Deposit, the Aurizon Gold Deposit and the 2017 G1 Copper Discovery, located within a 7-kilometer area on the property, are all considered by EnGold to be potentially underground minable targets. With world class infrastructure at its doorstep, Lac La Hache is a great location to be exploring. EnGold's corporate philosophy rests on three interdependent pillars: Environment, Engagement and Gold. Through sound environmental stewardship, commitment to transparent engagement with local communities, the Company is dedicated to driving exceptional shareholder and stakeholder value by fulfilling its vision to profitably supply valuable and much needed metals to the global marketplace.
EnGold Mines Ltd.
President & CEO
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